Tannum Sands Property Market Update 2nd Half of 2021

In Q3 2021, Tannum Sands recorded a median house price of $403,000, and a median unit price of $210,000. This represents annual (Q3 2020 – Q3 2021) median price growth of 15.3% for house, but a softening of -3.4% for units. Between Q3 2020 – Q3 2021 total sales increased, by 23.6% for houses (to 68 sales) and by 66.7% for units (to 10 sales). Current market conditions indicate real returns in capital investment and high demand for houses, as median price growth is alongside increased sales volumes. First home buyers can now benefit from a more affordable unit market.

Average vendor discounts between Q3 2020 and Q3 2021 have tightened for houses to -3.5% for house but widened for units to -4.6%. Market conditions in Tannum Sands is uniquely split. House buyers must now be willing to offer closer to the first list price to secure their dream house. On the other hand, unit buyers now have more room to negotiate, benefitting from a discount.

In September 2021, house rental yields in Tannum Sands were recorded at an attractive 5.1%. In the 12 months to Q3 2021 the median house rental price increased by 10.9% to reach $388 per week, further complemented with low average days on the market (21 days). There is a healthy rental market in Tannum Sands, with investors benefitting from a highly demanded market.

2 bedroom houses have provided investors with +42.2% rental growth annually, with a median rent of $320 per week.

Also in September 2021, Tannum Sands recorded a low vacancy rate of 1.5%. Vacancy rates in Tannum Sands remain well below the Real Estate Institute of Australia’s healthy benchmark of 3.0%, even amidst COVID-19 recovery conditions. There is an increasingly higher rental demand and investors can be confident of a conducive investment environment in Tannum Sands.